By 2020, New Jersey is expected to suffer from a projected shortage of 2,500 primary-care physicians and specialists. A new study that ranks New Jersey as thestate for doctors makes that shortfall a bit more easy to understand. The analysis, from WalletHub, the personal finances website, compared the 50 states and the District of Columbia across 11 key metrics, ranging from “physicians’ monthly average starting salary” to “number of hospitals per capita” to “medically underserved areas or populations.”
New Jersey’s results were anything but stellar. We finished 42nd (1 = best) for cost-of-living-adjusted annual wage; 47th for cost-of-living-adjusted average starting salary, 45th for malpractice award payouts per capita, and 47th for number of hospitals per capita.
New Jersey’s neighbors don’t do all that much better -- and in some cases they do worse. New York came in as the second-worst state for doctors; Pennsylvania ranked 34th.
New Jersey also bombed on a critical component of the study, finishing 45th for opportunity and competition -- just ahead of New York’s 48th.
So what’s a good location for a new MD looking to set up a practice? Head for Mississippi, Iowa, or Minnesota.